Trump Tower Chicago Hotel is losing money hand over fist
that tenants in New York’s Trump Tower were selling their condos at a loss just to escape the taint by association, and a new report from thethe president‘s Chicago hotel is suffering a similar fate, thanks to the stench du Trump:
Profits fell 89% from 2015 to 2018, from $16.7 million to $1.8 million, according to documents filed with Cook County, Ill. Trump’s hotel struggled even as other Chicago hotels held steady or thrived. “Performance of [the Trump hotel] is clearly disassociated from that of its competitive set,” the company’s lawyers said in a letter to the county seeking to lower the hotel’s taxes. The lawyers said the problem was a reaction to Trump’s politics.
At the Chicago hotel, former employees said they saw the decline up close. It began in 2015, when Trump’s rise as a hard-right politician began to alienate the rich, urban customers to whom the hotel catered. Then came election night. “A [supervisor] walked by me real fast and said: ‘Oh, my God, he just won Michigan. It’s over,’ ” saida waiter who worked in the hotel’s Michelin-starred restaurant, Sixteen. Inside the bar, Trump supporters were cheering.
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